T OWNSHIP OF P USLINCH 2019 F INANCIAL S TATEMENT P RESENTATION - - PowerPoint PPT Presentation

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Aug 23, 2022 159 likes •390 views

T OWNSHIP OF P USLINCH 2019 F INANCIAL S TATEMENT P RESENTATION Presented By: Angela Nichol, CPA, CA Traci Smith, CPA, CGA, LPA O UTLINE Review of significant financial statement elements including: Statement of financial position

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TOWNSHIP OF PUSLINCH 2019 FINANCIAL STATEMENT PRESENTATION

Presented By: Angela Nichol, CPA, CA Traci Smith, CPA, CGA, LPA

SLIDE 2

OUTLINE

 Review of significant financial statement

elements including:

 Statement of financial position  Statement of operations and accumulated surplus  Statement of changes in net financial assets  Statement of cash flows  Accumulated surplus note  Reserves note  Final report to Council

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STATEMENT OF FINANCIAL POSITION

 Statement of financial position is a snapshot of

the municipality at a point in time.

 It highlights the following:  Cash resources  Net financial assets  Non-financial assets  Accumulated surplus or deficit

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STATEMENT OF FINANCIAL POSITION

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STATEMENT OF OPERATIONS

AND ACCUMULATED SURPLUS

 Reports the revenues and expenses of the

municipality for the year.

 Total revenue less costs (expenses) gives annual

surplus

 It highlights the following  Actual vs. budget vs. prior year results  Annual surplus  Accumulated surplus

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STATEMENT OF OPERATIONS

AND ACCUMULATED SURPLUS

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HIGHLIGHTS OF MUNICIPALITY PERFORMANCE – REVENUE

4,308,350 55% 456,855 6% 1,479,299 19% 1,593,080 20%

2019

Taxation Fees and user charges Grants Other income

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HIGHLIGHTS OF MUNICIPALITY PERFORMANCE – EXPENSES

27.37% 22.81% 27.03% 7.69% 15.10%

2019

General government Protective services Transportation Recreational and cultural Planning & development 49% 0% 26% 21% 0% 4%

2019

Salaries Interest Materials & supplies Contracted services Rents & financial expense External transfers

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STATEMENT OF CHANGES IN NET FINANCIAL ASSETS

 Takes annual surplus from statement of

perations and removes activity in non-financial

assets to get change in net debt for the year that agrees to statement of financial position

 It highlights the following:  Changes in capital assets for the year  Change in net debt/net financial assets

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STATEMENT OF CHANGES IN NET FINANCIAL ASSETS

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STATEMENT OF CASH FLOWS

 Shows the change in cash and cash equivalents

for the year

 Breaks down cash between operating, capital,

investing and financing

 It highlights the following:  Primary sources of cash (Operating , investing or

financing)

 Primary use of cash (Capital transactions)

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STATEMENT OF CASH FLOWS

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ACCUMULATED SURPLUS NOTE

 Provides a breakdown of the accumulated

surplus balance found on the Statement of Financial Position and Statement of Operations and Accumulated Surplus

 Includes details of:  Amount invested in capital assets  General surplus (Accumulated Operating

Surpluses/Deficits)

 Capital assets financed by long term liabilities

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ACCUMULATED SURPLUS NOTE

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RESERVES NOTE

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HIGHLIGHTS OF MUNICIPALITY PERFORMANCE – RESERVE BALANCES

500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 2019 2018 2017 2016 2015

Reserves and Discretionary Reserve Funds

Working capital Recreational and cultural Fire Transportation General government Protective services Asset management

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HIGHLIGHTS OF MUNICIPALITY PERFORMANCE – RESERVE BALANCES

200000 400000 600000 800000 1000000 1200000 1400000 1600000 2019 2018 2017 2016 2015

Obligatory Reserve Funds

Recreation land Gas tax Development charges Other

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FINAL REPORT TO COUNCIL

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FINAL REPORT TO COUNCIL

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FINAL REPORT TO COUNCIL

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